Showbiz
Michael Kors Acquires Luxury Fashion Brand, Versace, for $2.12b
By Dipo Olowookere
Global fashion luxury group, Michael Kors Holdings Limited, has signed a definitive agreement to acquire all of the outstanding shares of Italian luxury fashion house, Gianni Versace, for a total enterprise value of €1.83 billion or $2.12 billion.
Versace, long recognized as one of the world’s leading luxury fashion companies, is synonymous with Italian glamour and style.
A statement by Michael Kors disclosed that with the acquisition, it intends to grow Versace to $2.0 billion in revenues globally and build on the brand’s luxury runway momentum.
In addition, the firm plans to enhance Versace’s powerful and iconic marketing, increase global retail footprint from approximately 200 to 300 stores, accelerate e-commerce and omni-channel development, and expand men’s and women’s accessories and footwear from 35 percent to 60 percent of revenues.
It was disclosed that the acquisition of Versace is expected to deliver a number of benefits for Michael Kors by helping it grow the group’s revenues to $8 billion in the long-term, expand the global luxury group to include three iconic founder-led brands defined by fashion luxury products with a reputation for world-class design and innovation.
Also, the deal is expected to diversify Michael Kors’ geographic portfolio from 66 percent Americas to 57 percent Americas, 23 percent Europe to 24 percent Europe, 11 percent Asia to 19 percent Asia, and create a potential long-term operational synergies.
Commenting on the deal, Chairman and Chief Executive Officer of Michael Kors Holdings Limited, Mr John Idol, said, “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented the epitome of Italian fashion luxury, a testament to the brand’s timeless heritage.
“We are excited to have Versace as part of our family of luxury brands, and we are committed to investing in its growth.
“With the full resources of our group, we believe that Versace will grow to over $2 billion in revenues. We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth.”
“Donatella’s iconic style is at the heart of the design aesthetic of Versace. She will continue to lead the company’s creative vision. I am thrilled to have the opportunity to work with Donatella on Versace’s next chapter of growth,” Mr Idol continued.
“This is a very exciting moment for Versace,” said Donatella Versace. “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. Versace is not only synonymous with its iconic and unmistakable style, but with being inclusive and embracing of diversity, as well as empowering people to express themselves. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential. We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader. We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow.”
Donatella added, “Santo, Allegra and I will become shareholders in Capri Holdings Limited. This demonstrates our belief in the long-term success of Versace and commitment to this new global fashion luxury group.”
“Versace’s management team will continue to be led by Chief Executive Officer, Jonathan Akeroyd, who has been an instrumental partner to Donatella in driving growth and success for Versace worldwide,” added John D. Idol. “He and Donatella have assembled strong senior management and design teams that will continue to lead Versace into its next chapter. We are extremely fortunate to be able to acquire such an extraordinary brand with an incredibly talented team.”
Jonathan Akeroyd, Chief Executive Officer of Versace, said, “Since I joined Versace over two years ago, our focus has been on leveraging the company’s heritage and strong brand recognition worldwide, which has allowed us to experience significant growth in all regions. Donatella’s unmatched vision has led to the continued and growing success of our brand. I am thrilled to be joining Capri Holdings Limited, which will be instrumental in accelerating our growth globally.”
Imagine it’s Christmas. The aroma of jollof rice wafts through the air, kids run around in matching outfits, and the TV is tuned to GOtv Channel 3, M-Net Movies 4. But this isn’t just any Christmas morning—this one’s about to go wild. A mischievous cat wreaking havoc, Matilda bending spoons with her mind, and Babe, the pig, proving why kindness trumps all.
This year, GOtv is turning your festive lineup into a whirlwind of unforgettable stories that will leave you laughing, crying, and cheering—all in one sitting. Here’s a guide to some of the festive season movies that will make your holiday season not just merry but downright legendary.
Dr. Seuss’ The Cat in the Hat
“Chaos has never been this entertaining!”
What happens when a family’s holiday preparations meet a six-foot-tall cat with a penchant for mischief? Absolute pandemonium! From balancing teetering stacks of furniture to unleashing his Thing 1 and Thing 2 accomplices, the Cat pushes the boundaries of holiday cheer. Did you know this whimsical character has sparked debates about his “anarchic” influence for decades?
This Christmas, let the Cat in the Hat remind you that sometimes, a little chaos is needed to bring families together. Catch this iconic film on Thursday, December 19th, at 12:15 pm.
Matilda
“Who says kids can’t save Christmas?”
Matilda Wormwood may be small, but her courage and wit are larger than life. Remember the scene where she finally takes a stand against Miss Trunchbull? That’s not just a victory—it’s a moment that defines resilience. This heartwarming classic proves that even the tiniest among us can create the biggest miracles.
Gather the family and let Matilda inspire a holiday spirit filled with courage, imagination, and just a touch of telekinesis. This family favourite airs on Wednesday, December 25th, at 3:00 pm.
Babe & Babe: Pig in the City
“From farmyard hero to city superstar!”
What could be more festive than the tale of a pig who defies the odds? Babe’s journey to prove his worth is a story that echoes the true spirit of the holidays: kindness, determination, and belief in oneself. In Babe: Pig in the City, the stakes are raised as our lovable hero ventures into an urban jungle.
These tales are more than entertaining—they’re a gentle reminder to embrace every family member, even the most unlikely ones. Catch Babe on Monday, December 23rd, at 8:35 am, and don’t miss the sequel, Babe: Pig in the City, airing the next day, Tuesday, December 24th, at 9:00 am.
Cloudy with a Chance of Meatballs
“Let it rain… cheeseburgers?”
What if your holiday feast literally fell from the sky? This imaginative adventure takes festive indulgence to a whole new level. Whether it’s giant pancakes or spaghetti tornadoes, Cloudy with a Chance of Meatballs brings a colourful twist to the festive spirit. But beyond the fun, it’s a heartfelt story about family, innovation, and the courage to dream big. Join the adventure on Sunday, December 22nd, at 2:25 pm
Problem Child & Problem Child 2
“When holiday chaos meets Junior…”
Imagine this: one kid, two parents, and endless mayhem. Problem Child introduces us to Junior, the walking definition of “holiday surprises.” In the sequel, the laughs double as Junior’s antics escalate to new heights. It’s hilarious, nostalgic, and a perfect reminder that no family gathering is complete without a little drama. Watch the chaos unfold on Tuesday, December 24th, at 1:55 pm, followed by even more antics in Problem Child 2 at 3:25
Your Holiday Starts Here
This Christmas, GOtv isn’t just delivering entertainment; it’s creating moments you’ll treasure forever. From whimsical chaos to heartwarming tales, M-Net Movies 4 on Channel 3 has it all.
So grab a plate of Christmas jollof, huddle up with your loved ones, and let the holiday magic unfold on screen. And don’t forget to tune in to GOtv Channel 3 to catch these festive classics.
Don’t miss the chance to make your holiday season unforgettable. Subscribe, upgrade, or reconnect now through the MyGOtv App or dial *288#. This Christmas is not just about the presents—it’s about the stories that bring us together.
By Modupe Gbadeyanka
Barring any unforeseen circumstances, all roads will lead to the Livespot Entertarium in Lekki, Lagos for the Stanbic IBTC Pension Managers’ FUZE Talent Show 3.0 on Saturday, December 21, 2024.
The festival is the biggest talent extravaganza in Nigeria. It is a platform that celebrates the country’s creativity and innovation.
According to the organisers, the programme promises to be a game-changing platform for unveiling Nigeria’s next generation of young talents.
The FUZE 3.0 festival features a prize pool of N50 million and an esteemed panel of judges, including industry icons like Funke Adepoju, Akinwande Akinsulire, Don Flexx, and Korede Bello.
With the theme Light it Up, this event is more than just a competition; it is a movement that celebrates Nigerian creativity in music, dance, fashion, and technological innovation.
“We are not merely hosting a talent show; we are creating a platform that amplifies the extraordinary potential of Nigerian youths in music, dance, fashion, and technology.
“The FUZE Festival is designed to showcase this potential, providing a vibrant space where young talent can shine, connect, and collaborate; ultimately fostering innovation and creativity within our communities.
“By celebrating diverse artistic expressions, the festival aims to inspire the next generation of leaders and change-makers in Nigeria,” the chief executive of Stanbic IBTC Pension Managers, Mr Olumide Oyetan, said.
Globally acclaimed Nigerian musical powerhouses that embody the excellence and vibrant energy of the Nigerian entertainment industry, Wande Coal, BNXN and Qing Madi, will be on stage to thrill guests and participants and electrify the atmosphere with their chart-topping hits.
This celebration is expected to birth new Nigerian talents with the potential to make a global impact after their grooming stages.
The event will include a unique holiday shopping festival. Premium Nigerian and international brands in fashion, beauty, personal care, tech, food, and beverage will display their quality goods and products for all holidaymakers and fun-seekers looking for amazing seasonal discounts on special gift items.
The exhibition area will be more than a shopping destination; it will be an immersive experience that complements the talent show’s vibrant atmosphere.
Shoes are a staple of the fashion industry. Hundreds of brands exist that make and produce a wealth of shoes each year. Shoes can be stylish, comfortable, and unique, but did you know that certain shoes offer some great benefits?
Elevator shoes provide a primary advantage that many men would enjoy—the appearance of being taller. And it’s not just the appearance of height for the sake of looking taller, the benefits from the height increase of elevator shoes go beyond mere looks.
The fashion industry is always innovating—as any good industry does. One of the most regarded crazes has been guido maggi elevator shoes. They’re different from regular sneakers or loafers. Elevator shoes have a specially designed insole—that is cleverly concealed—that provides a discreet increase in height.
The height increases range from 2.5-5 inches, depending on the brand and design. Elevator shoes are not only made in one style, many variations can accommodate many social gatherings and settings.
Elevator Shoes Provide A Height Increase
One of the main benefits of elevator shoes is that they discreetly improve your height. Since the lift is hidden inside the shoe, the shoes themselves do not attract unwanted attention. These are not high-heels or platform shoes—they’re a subtle design.
Not only do they offer a height increase, but elevator shoes can also improve your stride while providing extra support. The world average height for a man is 5ft 10.5 in, while the average female height is 5ft 5 in. Some might want a little extra help to reach or surpass the average.
Some people might indeed want only a minor height increase—nothing too obvious and elevator shoes can provide that while also offering a boost of confidence.
As I said before, elevator shoes can also improve your posture. Proper posture will see your shoulders square and a more defined, straightened walking gait. The added height could also help you maintain eye contact more easily and pay closer attention to facial cues and expressions, thus improving the flow of your conversations.
Elevator Shoes Offer Comfort
Comfort is one of the main reasons people buy and wear any type of clothing. You might think that elevator shoes would be uncomfortable or that they could cause foot pain or soreness, however, neither of those is true. One of the primary goals for the design of elevator shoes was to make movements like running, walking, and hiking as easy as can be while wearing them.
In contrast, high heels can be excruciatingly painful. They offer the same height increase benefit as elevator shoes but rarely offer the same subtle design or comfort. Often, elevator shoes contain extra padding in the soles to reduce the impact on your feet when walking, jogging, or running.
As with nearly any new pair of shoes, you will need a short period to ‘break them in’ but it’s not more strenuous than any other type of shoes.
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